TSFG slips below 40 cents a share

Struggling Southeastern financial services company South Financial Group saw its stock hit an all-time low Tuesday, dipping below 40 cents a share.

The Greenville, SC-based parent of Carolina First Bank sank as low as 39.5 cents before closing at 41 cents a share, down 4 cents from Monday.

By comparison, the company’s stock was trading for around $15 a share in 2007.

The new low comes a week after South Financial reported a net loss of $193.9 million for the fourth quarter and $736.9 million for all of 2009.

Over the past two years, TSFG has lost more than $1.3 billion and seen its total assets decline from $13.6 billion to $11.9 billion.